New Loan Review

Hi Everyone,

I'd like to take a poll related to review of new loans:

• Who reviews new loans in your credit union?
  • Internal Audit reviews 
  • Compliance Offcer reviews
  • Risk Mananger reviews
  • We have a separate Quality Control group who reports to (_____)
  • The Supervisory Committee reviews loans themselves
  • Other
• Approximately what percentage of new loans go through the review process?
• Briefly what is covered in the new loan review? 

We are looking at our quarterly loan review procedures, currently done by Internal Audit. We have recently split off Compliance to a different VP and we've added a Risk Manager, so rethinking what we do and who will be responsible. We have been looking at all aspects of underwrting/documentation/collateral/approval/terms (loan policy stuff) and some compliance aspects in our quarterly reviews and doing a sample of loans, stratified by type. We don't currently have a separate Quality Control group.

Thanks for sharing!

Brenda